Will Solana’s $170 support hold after Alameda unstakes $35M in SOL?

Key Points

1. Solana's $170 support level is under pressure after Alameda Research unstaked $35M in SOL, and whales moved over 226k SOL to exchanges, signaling heavy selling.

2. SOL's price briefly dropped to $173, shedding $15M, but rebounded quickly, showing buyer resilience despite the selling pressure.

3. SOL's performance is weak compared to ETH, with only a 1.07% gain in August versus ETH's 15.75%, and a 12.8% quarterly ROI compared to ETH's 72%.

4. A single whale sold $17.2M worth of SOL, contributing to a 4% pullback, with whale sales averaging around $177, indicating sustained selling pressure.

5. Alameda Research's unstaking of SOL, initially worth $350K in 2020 (now $35M), adds to the selling pressure, though SOL's Net Position remains positive, supporting consolidation above $170.